Bitcoin is over. If you're not out, get out. The last ones to leave will be the worst off.

I've been saying for months that this was a speculative bubble, a pyramid scheme. I said that when bubbles pop, they pop all the way. There were replies like "troll" and "hater". "The bitcoin's value will inevitably increase." (Bazil). "Regular use of Bitcoins will pick up pace, it's inevitable." (Goodlord666). There are still people writing comments like that.

The amount of BTC being offered for sale at 5.25 is just staggering. It truly dwarfs the amount ofmoney wanting into BTC. Just two weeks ago people would have loved to buy at that price but nowno one wants to touch them.

How can the price possibly recover when people do not want to buy, and even if they do buy,the amount of cash to bring the price back up to 7 is ridiculous.

The amount of BTC being offered for sale at 5.25 is just staggering. It truly dwarfs the amount ofmoney wanting into BTC. Just two weeks ago people would have loved to buy at that price but nowno one wants to touch them.

How can the price possibly recover when people do not want to buy, and even if they do buy,the amount of cash to bring the price back up to 7 is ridiculous.

Why buy at $7 if you can buy at $5.25?Why buy at $5.24 if you can buy at $4?Why buy at $4 if you can buy at $3?...People are going to keep pressing their luck until someone decides it's time to buy big, and the procrastinators lose out big time.

The big dogs could bring the price up to $10 right now if they wanted to, which means double the value than $5.25 for them. Saw someone with a 17,000 btc bid at 5.25 earlier.

The amount of BTC being offered for sale at 5.25 is just staggering. It truly dwarfs the amount ofmoney wanting into BTC. Just two weeks ago people would have loved to buy at that price but nowno one wants to touch them.

How can the price possibly recover when people do not want to buy, and even if they do buy,the amount of cash to bring the price back up to 7 is ridiculous.

Why buy at $7 if you can buy at $5.25?Why buy at $5.24 if you can buy at $4?Why buy at $4 if you can buy at $3?...People are going to keep pressing their luck until someone decides it's time to buy big, and the procrastinators lose out big time.

The big dogs could bring the price up to $10 right now if they wanted to, which means double the value than $5.25 for them. Saw someone with a 17,000 btc bid at 5.25 earlier.

I have never found a market where it is easier to make profitable trades so frequently, but it is not for 'holders'...

But that assumes perfect trading which we know is not possible. Buying in at the wrong momentjust means you needed to sell at a loss to try again. Picking the spot to catch the falling knife forjust a few moments to catch a small upswing is not exactly easy.

Unless you have a strategy I am not thinking of which is very possible.

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And I am out. No more BTC for me. It was fun trying to trade but I sucked at it for the last week.Nice way to lose enough money for a really fancy dinner out on a Saturday night. Probably droppeda 100 bucks in the last week with losses. Sent the money to dwolla.

But eh.. i get free electricity at the colo due to my job and my 2.6 gh/s will create more BTC soonenough to putz around with. Hope difficulty drops over the next month.

The amount of BTC being offered for sale at 5.25 is just staggering. It truly dwarfs the amount ofmoney wanting into BTC. Just two weeks ago people would have loved to buy at that price but nowno one wants to touch them.

How can the price possibly recover when people do not want to buy, and even if they do buy,the amount of cash to bring the price back up to 7 is ridiculous.

Why buy at $7 if you can buy at $5.25?Why buy at $5.24 if you can buy at $4?Why buy at $4 if you can buy at $3?...People are going to keep pressing their luck until someone decides it's time to buy big, and the procrastinators lose out big time.

The big dogs could bring the price up to $10 right now if they wanted to, which means double the value than $5.25 for them. Saw someone with a 17,000 btc bid at 5.25 earlier.

See, but no one wants in at $10. No one who's not in bitcoins now wants in at all.